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Who Should File a 2017 Tax Return?

Some people may not know they are eligible for a tax refund, therefore they will not file their taxes if they do not have to. Here are some tips to determine whether you may be valid for a refund:

1. General Filing: There are a few general guidelines for helping you to know if you should file a tax return this year. The first deciding factor is your income, along with your age and filing status.

2. Premium Tax Credit: This is for those who bought health insurance through the Health Insurance Marketplace during 2016. If you are eligible for this, you will need to file a return to claim the credit.

3. Tax Withheld or Paid: If your employer withheld federal income tax from your pay, if you make estimated tax payments, or you overpaid last year, you can be eligible for a refund.

4. Earned Income Tax Credit: If you earned less than $53,505 last year, you could receive an earned income tax credit refund.

5. Additional Child Tax Credit: If at least one of your children qualifies for the Child Tax Credit and you do not receive the full amount, you could quality for the Additional Tax Credit.

6. American Opportunity Credit: This is available for four year of post-secondary education. You may still qualify for this even if you don’t owe any taxes. This is available if you or your dependent have been enrolled at least half-time for at least on academic period.